Liam Gretton

How to Value Your Garden Land UK

Garden land

If you’ve recently moved into a home with large land at the back of it, or you’ve been living with it for a while and it’s just something you’re not fussed about keeping, there are ways you can sell it so you don’t have to constantly stay on top of it.

However, you may have looked online and seen how complicated it can be, so you thought you’d just keep it for now. Despite its complexity, however, if you know the right methods and the intricacies of how to do it, you can effectively sell it.

That’s why in today’s article, we’re going to break down simply how to value your new or existing garden land in the UK, what the best methods are to do so, the elements (benefits and drawbacks) you need to look at when doing this, and whether it’s actually a good idea for you to sell it or not.

 

What is Classed as ‘Garden Land’?

According to GOV.UK and I quote, “The nature of the building, and more specifically its status as a dwelling must be established first. It is therefore critical to assess whether the land under consideration forms part of the garden or grounds of a building at the outset. Note that the land being considered includes any building or structure on such land.

Once it has been established that land is ‘garden or grounds’, that land will be within the definition of residential property, and there will be no need to examine further the way that land is used.”

Essentially, the land has to be part of a property that is considered one for residence and not business. Then, you can start to look at options you have for the land once this is established.

 

How to Calculate the Value of Garden Land?

If you’re looking to run the calculations on this, you will have to calculate the value of garden land per square metre in the UK, but the price will change depending on where you live. According to ‘The Grass People’ who did a study on 50 locations, they found that the average square metre of a garden for a house is £1,526, whereas a flat is £737.

However, you have to take averages with a pinch of salt because it’s always going to differ depending on where you live in the UK. For example, let’s say you lived in the capital city, London. The garden land is going to be valued at a much higher price than the north of the country.

To calculate it, you can use three different methods:

  1. Cost Method – Cost of replacing the property minus depreciation.
  2. Income Method – Estimating the income the land can produce over time.
  3. Sales Comparison Method – Compares your property to the ones that have recently sold in the same or similar radius.

 

If you want to have a look at the data of most affordable, least affordable, and flats vs houses across the country, I’d suggest you look at this data from The Grass People.

 

Which Method is Best For You?

Out of the three methods of valuing garden land, the sales comparison method is the most common out of them all and is probably best if you’re buying or selling garden land. However, if the land is going to be sold for investment purposes, then the income method may favour you more.

However, if you’re unsure, you should speak to your local estate agent to see what the best option is for your tailored needs because they will give you all the details you need to make the final decision.

 

Why Should You Value Your Land?

There are some great benefits of valuing the land you have within your property, such as:

  • You will know exactly where you stand in negotiations from the get-go to make informed decisions
  • You will be able to sell your plot of land for a price that is fair with the market prices
  • You will have time to calculate any tax that is required in the sale (capital gains, inheritance, stamp duty, etc)
  • You won’t be subject to receiving less money than you deserve as you’re clued up

 

What You Need to Know Before Valuing Your Garden Land

Before you make the decision to either buy a property with garden land or sell garden land for investment or commercial purposes, it is imperative that you’re aware of everything that goes with it.

Factors that affect valueImpact
The locationWhere your land is within the UK is massive towards the price it’s going to be valued at.
The sizeThe size of your land (in square feet) will also impact the price it’s going to be valued at.
Property potentialIf you reside in a developing or up-and-coming area, this may be taken into consideration when valuing the garden land.
The accessibilityIf you’re in an accessible location to everything a person would need (shops, roads, transportation links, etc), you’re going to get a higher land valuation.
How old your property isThe age of your property can affect the valuation (newer property land is typically valued higher).
TopographyThe land surfaces and how efficient they are will massively impact the valuation, as buyers may not want to take a risk if there are past problems.
ZoningResidential and commercial zoning will typically get a higher valuation than agricultural.
Land recordsIf you have land records, it will make the process much smoother during any ownership and boundary disputes.

 

What Are Your Next Steps?

Now that you know everything regarding the benefits, methods, and calculations that will need to be made, you’re still going to need experts alongside you in this process. Estate agents when buying a home or selling a home and surveyors for correct pricing will be essential during this exciting process.

If you want to get a valuation today, whether you’re in the first stages of buying your home or selling the property, at Liam Gretton, we’re going to help you every step of the way in either of these processes.

Therefore, if you’re looking to make a move fast with this, get in touch by either emailing us at hello@liamgretton.co.uk or calling us at 0151 662 0312. We look forward to hearing from you soon!

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